Apple Targets April Launch for Video Service [Report]

Apple is targeting an April or early May launch for its new video service, reports CNBC. The service will include free original content for device owners and a subscription platform for existing services.

It will allow customers to sign up for existing digital streaming products and watch them in the iOS TV application, similar to Amazon's Prime Video Channels. Apple wants to simplify mobile video viewing by housing content in one app instead of forcing users to launch separate apps for each service.

Lions Gate's Starz; CBS, which owns Showtime; and Viacom are expected to work with Apple's service. Unfortunately, sources say Netflix will not participate and HBO's participation is in doubt.

Apple is purportedly pushing for 30% of every subscription sold via the service. That's double what the company currently charges for subscriptions sold via the App Store. To avoid Apple's toll, Netflix recently announced that new subscribers can no longer pay using iTunes.

"We see huge changes in customer behavior taking place now and we think that it will accelerate as the year goes by with the breakdown of the cable bundle. I think that it'll likely take place at a much faster pace this year," Cook said. "We will participate in the original content world. We have signed a multi-year partnership with Oprah, but today I'm not really ready to extend that conversation beyond that point. We've hired some great people that we have a super amount of confidence in, and we'll have something to say more on that later."

Apple is expected to hold a services focused media event on March 25th. It's possible the company will debut the video service at that event alongside a news subscription service.